Skip to content.

Home

Allens

Allens equity capital markets team keeps raising the bar

7 May 2009

Allens Arthur Robinson (Allens) has continued to demonstrate its strong equity capital markets capability this month with key advisory roles on three more significant capital raising deals valued at more than a combined total of $A1.6 billion.

Allens is acting for:

  • Alumina Limited (Alumina), a global alumina business, in an entitlement offer that will raise up to A$1,022 million;
  • the lead managers in global financial services provider Macquarie's A$540 million institutional placement; and
  • Iluka Resources Limited (Iluka), a major player in the global mineral sands sector, in its $A114 million institutional placement.

These deals involved Allens' co-heads of Equity Capital Markets, Alex Ding and Robert Pick.

Mr Ding and Partner Greg Bosmans led the Allens team acting for Alumina, advising on legal and taxation aspects of the offer that will raise A$737 million under the institutional entitlement offer - which has been completed - and that could raise a further $284.9 million from the retail entitlement offer, which is being conducted between 6 May 2009 and 25 May 2009.

Mr Pick acted for the joint lead managers - Credit Suisse, Goldman Sachs JBWere and Macquarie Capital Advisers - of Macquarie Group's $540 million placement undertaken on 1 May 2009.

The Iluka transaction was announced to the market on 1 May 2009 and was led by Partner Tom Story, supported by Mr Ding.

This steady flow of capital raisings is reflective of the current uncertain economic climate, and is expected to continue as Australian businesses look to quickly execute transactions that will enhance their financial positions and flexibility.

According to Mr Ding: 'Allens is pleased to have been entrusted as advisors on a large number of those capital raisings and appreciate the continued confidence placed in us by Alumina and our other clients over a number of years to work on the transactions that matter most to them.'

Mr Bosmans added: 'These recent deals follow on from a number of recent similar equity raisings by Australian companies aimed at reducing gearing and reducing reliance on bank debt in these uncertain times.

'In the case of Alumina, we were delighted to be able to assist them on this important matter aimed at securing Alumina's financial position in a very difficult financial and business environment.

'Alumina has great assets and a great team, which was reflected in the enthusiastic response from institutional shareholders to the offer.'

Client Allens legal team
Alumina Limited

Corporate: Greg Bosmans (Partner – Melbourne), Alex Ding (Partner – Sydney), Julian Donnan (Senior Associate – Sydney), Brooke Griffin (Lawyer – Melbourne), Xinmin Pang (Lawyer – Melbourne), Athol Birtley (Lawyer – Melbourne) Louise Barnett (Lawyer – Melbourne), John Henderson (Lawyer – Sydney), Margaret Walsh (Law Graduate – Melbourne)

Tax: Toby Knight (Partner – Melbourne) and Rebecca Saint (Senior Associate – Melbourne)
Credit Suisse, Goldman Sachs JBWere and Macquarie Capital Advisers, as Joint Lead Managers Corporate: Robert Pick (Partner – Melbourne)
Iluka Resources Limited Tom Story (Partner – Sydney), Alex Ding (Partner – Sydney), Bob Speed (Senior Associate – Sydney), Sandy Wu (Lawyer – Sydney)

Ends

For further information, please contact:

Return to top

Share with

What are these?

 

Notes for editors.

Allens Arthur Robinson has staff in 14 cities and eight countries across the Asia Pacific.